A two or three-hour film adapted from a couple thousand words?
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Is probably best thought of as fanfiction. Not that fanfiction can't be good. And maybe their great success has earned Jackson and co. the right to produce some big-budget fanfiction. But though Appendices A and B combined total more than 30,000 words, a great deal of that text does not bridge The Hobbit and LotR. The incidents you mention, for example, apart from the romance of Arwen and Aragorn, are treated in at most a few paragraphs.

It could work. It's a Wonderful Life was adapted from a Christmas card. <><><><><><><><><><><><><><><><> We're discussingThe Lord of the Rings in the Reading Room, Oct. 15, 2007 - Mar. 22, 2009!